PYMNTS’ Daily Data Dive: Apple’s R&D Budget

Typically, when a product doesn’t live up to expectations or performs poorly in the marketplace, its manufacturer removes it from circulation. One company that is not following this route is Apple.

In 2016, Apple spent an unprecedented amount of money for its research and development (R&D) department in hopes of making underperforming products profitable. The main drivers behind the high investment in R&D for Apple are a growing product range, an expanding services segment and a greater focus on in-house technology development.